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Senior Lifestyles - Canada - January 2019

"Knowing that seniors are the fastest growing segment of the population makes them intuitively an increasingly important segment for marketers to pay attention to. Seniors are bucking stereotypical images and increasingly showing an interest in following their passions and dropping the sentiment that they are too old to keep-up-to date with fashion/beauty trends, learn new technology or make new friends. These attitudes are contributing to a positive outlook on aging. While their lifestage does inform shopping considerations, this does open up opportunities to leverage technology to cater to their priorities of managing their health and enjoying life."
- Carol Wong-Li, Associate Director - Lifestyles & Leisure

This Report looks at the following areas:

  • The dynamics of retirement life is changing 
  • Retirement life has an impact on the role of technology
  • Seniors live in smaller households impacting shopping considerations

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Table of contents

  1. Overview

    • What you need to know
      • Definitions
      • Executive Summary

        • The issues
          • The dynamics of retirement life is changing
            • Figure 1: Select statements regarding outlook on life (% any agree), seniors vs overall, October 2018
          • Retirement life has an impact on the role of technology
            • Figure 2: Technology and digital media usage (NET), seniors vs overall, October 2018
          • Seniors live in smaller households impacting shopping considerations
            • Figure 3: Number of people currently living in the household, seniors vs overall, October 2018
          • The opportunities
            • Omni-channel marketing is key to connecting with 65-74-year-old women
              • Figure 4: Selected digital media usage, seniors by age and gender, October 2018
            • Senior women are a prime target for wearables
              • Figure 5: Currently focused on ‘my health’, senior women vs senior men, October 2018
            • Senior adoption of streaming video will likely see an uptick – particularly if supported with TV ads
              • Figure 6: Technology and digital media usage, seniors vs overall, October 2018
            • What it means
            • The Market – What You Need to Know

              • Seniors are the fastest growing segment
                • Seniors are carrying more debt, though not impacting life satisfaction
                  • Increasing smartphone ownership is a proxy for tech adoption
                  • Market Factors

                    • The face of the nation is getting more mature
                      • Figure 7: Population aged 0-14 and over-65, 1995-2035*
                    • More seniors over 80 and an increasingly female population is predicted
                      • Figure 8: Observed (1971 to 2011) and projected (2016 to 2061) number of people aged 65 to 79 years and 80 years and over, Canada (in thousands)
                    • Life satisfaction is high amongst seniors despite more debt
                      • Seniors are retiring with more debt
                        • Life satisfaction is not tied to income – or even debt
                          • Senior adoption of smartphones continues to rise
                            • Figure 9: Smartphone ownership, January/February 2015-18
                        • Key Players – What You Need to Know

                          • The quest for a bargain draws seniors towards loyalty programs
                            • Showcasing commonalities resonates with seniors
                              • The defining characteristics of ‘seniorhood’ are changing
                                • Tech will play a big role in caregiving moving forward
                                • What’s Hot?

                                  • Seniors are paying attention to loyalty programs
                                    • Seniors enjoy a good bargain
                                      • Virtually all seniors participate in loyalty programs
                                        • Seniors are online, bringing with them the rise of the Senior Influencer
                                          • Starring: Baddie Winkle
                                            • Figure 10: Baddie Winkle’s #BadAssBucketList, November 2017
                                          • Starring: George Takei
                                            • Starring: Iris Apfel
                                              • Figure 11: Rara Avis by Iris Apfel Collection 09.25.2018 - 11 PM, September 2018
                                            • Seniors and younger consumers share a connection
                                              • United in the way we eat: McDonald’s
                                                • Figure 12: More In Common Than We Think: Early Morning, September 2018
                                              • Bonding over a brew: Tim Hortons
                                                • Figure 13: Tim Hortons Guests Share Their Perfect Pairings, February 2017
                                              • The act of shaving as a touchpoint: Gillette TREO
                                                • Figure 14: Handle With Care: Gillette’s New Assisted Shaving Razor, June 2017
                                              • The BPC industry is making strides in inclusiveness
                                                • Figure 15: Dispelling Beauty Myths: Aging With Grace, August 2016
                                                • Figure 16: NEW Age Perfect Intensive Re-Nourish with Manuka Honey, September 2018
                                            • What’s Not?

                                              • The hallmarks of a senior’s lifestage is changing
                                                • Retirement now may include getting a part-time job
                                                  • Look here! The media calls attention to seniors as a key consumer group
                                                    • Who are you calling old? Time for some new labels, please!
                                                    • What’s Next?

                                                      • Disruptions in caregiving are on the horizon
                                                        • Providing free rides to seniors: spotlight on Lyft
                                                          • Introducing Zora, the robot caregiver
                                                            • Robots taking on a number of roles in Japan’s Shin-tomi nursing home
                                                              • More company is available for seniors if they want it
                                                                • College students and seniors make a winning combo: spotlight on Papa
                                                                  • An online dating app for seniors is now available: spotlight on Lumen
                                                                    • Home-sharing programs bring companionship and help to seniors
                                                                    • The Consumer – What You Need to Know

                                                                      • Living arrangements impact shopping considerations
                                                                        • Retirement life impacts perception of ‘busy’
                                                                          • The role of technology differs for seniors than the overall population
                                                                            • Seniors have a good outlook on life and feel well supported socially
                                                                              • Top priorities: managing health and making the most of their time now
                                                                              • Living Arrangements, Financial Health and Passing Time

                                                                                • Seniors live in smaller households, shopping considerations will differ
                                                                                  • Figure 17: Number of people currently living in the household, seniors vs overall, October 2018
                                                                                • Gains to be had by graduating empty-nesters towards premium products
                                                                                  • Senior women are more likely living by themselves, thus will likely need more support
                                                                                    • Figure 18: Current living arrangement, by age and gender of seniors, October 2018
                                                                                  • Seniors have confidence in their financial situation
                                                                                    • Figure 19: Perception of financial health, over-65s vs overall, October 2018
                                                                                  • Storytelling will be key as seniors likely apply greater scrutiny to purchases
                                                                                    • Figure 20: Annie's Homegrown Honey Bunny Grahams (US, April 2018)
                                                                                  • Living as retirees changes the meaning of ‘busy’
                                                                                    • Figure 21: ‘My days are busy’ (% agree), over-65s vs overall, October 2018
                                                                                  • Grocery and cooking related retailers have a new audience in senior men
                                                                                    • Figure 22: Red Wine Chocolate Cake, September 2018
                                                                                    • Figure 23: Acquisition email, Sobeys, October 2018
                                                                                  • A ‘ladies day out’ could be a win for foodservice and theatres
                                                                                  • Outlook on Life

                                                                                    • Seniors are in a good state of mind
                                                                                      • Figure 24: Select statements regarding outlook on life (% agree), seniors vs overall, October 2018
                                                                                    • Younger senior men are entering the next stage of life with optimism
                                                                                      • Figure 25: The Viking Experience: Extraordinary Elegance & Comfort, March 2018
                                                                                    • Too old for beauty/fashion trends or new tech? Nope, seniors are game!
                                                                                      • Figure 26: Select statements regarding outlook on life (% agree), seniors vs overall, October 2018
                                                                                      • Figure 27: Maye Musk in COVERGIRL + Olay Simply Ageless Foundation, November 2017
                                                                                  • Support Network

                                                                                    • Seniors feel they are well supported socially
                                                                                      • Figure 28: Select statements regarding feeling lonely and making friends (% any agree), seniors vs overall, October 2018
                                                                                      • Figure 29: Select statements regarding feeling lonely and making friends with age (% agree), seniors vs overall, October 2018
                                                                                    • Businesses will gain by creating more opportunities to socialize
                                                                                      • Senior women may need a boost in expanding social circles
                                                                                        • Figure 30: Selected statements regarding feeling lonely and making friends (% agree), senior men vs senior women, October 2018
                                                                                      • Few worry about being a burden on their family
                                                                                        • Figure 31: ‘I worry about being a burden on my family’ (% any agree), seniors vs overall, October 2018
                                                                                    • Technology Usage

                                                                                      • Seniors’ attitudes reflect an openness towards technology
                                                                                        • Figure 32: ‘I enjoy learning how to use new technology’ (% agree), 65-74s vs over-75s, October 2018
                                                                                      • Seniors’ days are ‘busy’ in a different way, shifting the role of technology for them
                                                                                        • Overall usage patterns echo that of the average population
                                                                                          • Figure 33: Technology and digital media usage, seniors vs overall, October 2018
                                                                                        • Seniors’ adoption of streaming video will likely an uptick – particularly if supported with TV ads
                                                                                          • Surprise! Women aged 65-74 drive senior tech usage
                                                                                            • Figure 34: Repertoire analysis of tech activities used, women 65-74 vs seniors overall, October 2018
                                                                                            • Figure 35: Selected digital media usage, seniors by age and gender, October 2018
                                                                                          • Good potential exists to leverage influencers to connect with women 65-74
                                                                                            • The time is ripe to showcase how smart speakers connect networks to younger senior women
                                                                                              • Figure 36: Amazon Echo Show: Cooking Together, November 2018
                                                                                          • Current and Future Focus

                                                                                            • Seniors are interested in making the most of their time now
                                                                                                • Figure 37: Current focus (any rank), seniors, October 2018
                                                                                                • Figure 38: Future priorities, seniors, October 2018
                                                                                              • Adding senior-focused experiential elements can transform the regular into an outing
                                                                                                • Senior women’s attention to health means good potential for wearables
                                                                                                  • Figure 39: Currently focused on ‘my health’, senior women vs senior men, October 2018
                                                                                                • Messaging focusing on functional benefits will attract senior women to wearables
                                                                                                  • Travel-related businesses will see gains targeting younger senior men
                                                                                                    • Figure 40: Travel as top priority in the next five years, seniors by age and gender, October 2018
                                                                                                  • Not all bucket list items have to be over-the-top
                                                                                                    • Multigenerational travel and leisure experiences may also appeal
                                                                                                    • Appendix – Data Sources and Abbreviations

                                                                                                      • Data sources
                                                                                                        • Consumer survey data
                                                                                                          • Consumer qualitative research
                                                                                                            • Abbreviations and terms
                                                                                                              • Abbreviations

                                                                                                              Senior Lifestyles - Canada - January 2019

                                                                                                              US $4,395.00 (Excl.Tax)